The Bank of Canada has recently announced the release of the new polymer $100 bill. This new bank notes is “secure”, “durable”, and “innovative”, which has now made it harder to counterfeit. Their future goal is to abandon paper money, as this new polymer bill is said to last “twice as long” compared to paper money and includes various of “high-tech security features”.

By only implementing the new $100 bill at the moment, I believe it’s a market strategy for the bank of Canada, as this would allow them to do further research and see the affects of this implementation. By introducing the least commonly used bill first, allows the bank of Canada to investigate in whether or not to proceed this implementation with more commonly used bills such as the $20 and $10 bills.

However, introducing the $100 bill first, business may not want to accept this new polymer bill and might find it suspicious as the currency is so big. Despite the new security checks, society aren’t familiar with the bill yet and might find difficulties identifying the security clues when it was their first time seeing such bills.

Source: BBC News Magazine

In addition, the polymer bills are recyclable, making the bank of Canada a greener business. This makes the business more ethical as the new polymer bill is claimed to be cleaner than paper bills. Therefore, this implementation would be beneficial for both users and producers.